Welcome to a brand new blog post! I thought that today I would talk to you all about the new whiplash laws and the fact that they might save some of you some money in regards of insurance!
What is whiplash, I hear you say? Whiplash is basically soft tissue damage to the neck and the upper back area following a sharp jolt.
The average cost of car insurance is at an all-time high according to comparethemarket.com, with the average policy set to reach £800 by the end of the year. This is a 14% increase on 2016 and £200 more than in 2015.
The whiplash reforms are a measure to stop minor claims exaggerated/fraudulent whiplash claims, saving the insurance industry around £1bn a year and drivers an expected £40 per year on their car insurance.l which I know isn't a lot in writing but a saving is a saving at the end of the day! However, due to an increase in the rate of insurance premium tax, insurers seem to be unable to pass those savings on which is a shame in today's society.
The changes to how whiplash pay outs are made are due to come into effect in the beginning of 2018, and will introduce a fixed amount payable for injuries lasting less than 2 years. (If you want to find out more about when the changes will be officially happening then scroll to the bottom of this post for the link.)
The changes will also reduce the amount the insurer has to pay in costs for the claim by increasing the Small Claims Track Limit from £1000 to £5000 for road traffic accidents. That means all cases under £5000 will be considered small claims for road traffic accidents. More motorists may be expected to go through the small claims court rather than using a solicitor for car accident claims which will help you save more money in this time of need as solicitors are never cheap!
I hope that you have enjoyed this informative post on the Whiplash Reform and saving money as a driving insurer.
If you want to read more on the whiplash reform and what it means for yourself or anyone that you know of then click here.
I hope that your day is going well and that you come back next time for another blog post!
Thanks for reading!
This blog post was in collaboration with a brand and in return of goods/services. All views, opinions and ramblings are my own.